TSMC Forecasts Robust 2023 Growth Fueled by AI Chip Demand
• TSMC's quarterly revenue grew 16%, faster than expected, to $18.5 billion • Growth driven by demand for advanced AI chips used in data centers • TSMC budgets $28-32 billion in capital expenditures for 2023 • Revenue expected to grow over 20% in 2023, rebounding from 2022 • Demand for AI chips expected to offset smartphone and PC sales slowdown